The Event location feature is a global option that can be assigned to events in the Event Info settings in the product manager. The event location feature is optional. If an event location is selected on the Event Info screen however, that value will be automatically display on the product details page.
The event location feature is primarily provided for stores that require custom reports related to event management and registration statistics. Some stores use the event location feature to apply custom location mapping and directions on the product detail page (not included with default installation).